US Dept of Commerce, Economic Development Authority (EDA) Approves Grant for Construction of Multi-Tenant Technology Building at Cape May County Airport
CAPE MAY COURT HOUSE, NJ – Commissioner Director Leonard C. Desiderio received notification from the Economic Development Authority (EDA) that EDA Project No.: 01-01-15107 has recently been approved for funding to support the construction of a Cape May County Multi-Tenant Technology Building, otherwise referred to as, Cape May County Tech Hangars II. This $2.98 million dollar EDA grant award will support the construction of an approximately 16,434 square foot two-story building, located across from the Cape May County Tech Hangar I, intended to recruit occupancy of technology related companies/startups, like those currently leasing space in the County’s Tech Hangar I.
“We are excited to receive formal notification of the approval and acceptance of funding from the EDA, and the Board and I look forward to expanding space for occupancy to help cultivate the fast-growing technology industry. We have seen first-hand how technology can foster entrepreneurship and startups, commercialization of new technologies, as well as increased workforce development for high-skilled, good-paying jobs of the future,” said Commissioner Director Desiderio.
“With Tourism and Commercial fishing as our leading economic drivers, Cape May County will continue to seek to diversify and bring new businesses to the County from technology related fields such as aviation/drones, medical technologies, and communications, to name a few,” added Commissioner Director Desiderio.
Commissioner Bobby Barr, liaison to Economic Development added, “This is great news for the countywide workforce and our economy. We have all witnessed the impact that the technology industry has had on all industries to improve productivity, efficiency, communications, and our quality of life. Cape May County is well poised to add new and clean industries to generate more year-round jobs.”
The proposed EDA award amount is $2,974,800 with total estimated project costs of $6,345,700. Arthur J. Ogren, Inc. of Vineland, NJ is the contractor for the project.